An Arbitration Agreement Form is a binding contract between two or more parties, which outlines the terms and conditions for taking any disputes or legal disagreements to an Arbitration panel instead of to court. Arbitration provides a legally binding resolution to disputes through a neutral third-party arbitrator, and this form clearly states all responsibilities of the parties involved with clear and concise language. It also explains the rights of each party should one claim to have breached the agreement, such as time limits for seeking remedies, filing fees, and what types of evidence will be used in determining the outcome of the case. By signing this document, you are agreeing that arbitration should be used to settle any disputes or legal disagreements instead of going through the traditional court procedures.